The NSE Nifty is likely to remain rangebound today, between 10,430 and 10,570, said Ashwani Gujral, market expert.

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The Indian markets erased their nine-day gaining streak on Wednesday after NS Vishwanathan, RBI deputy governor, defended the one-day default norm in the February 12 NPA circular.

The financial stocks dragged the Nifty by 30 points while the FMCG lent a 20-point support. The Sensex slipped 260 points from its highs to close at 34,332 while the Nifty slipped 68 points to close at 10,526.

Resource stocks pulled the Asian markets up today as the oil prices hit heights not seen since late 2014, though the potential boost to inflation globally also pressured fixed-income assets.

Wall Street had also seen hefty gains in the energy and industrial indexes, though that was offset by softness in sectors such as consumer staples and financials.

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First Published:Apr 18, 2018 6:27 PM IST